Posts tagged ‘Search Based BI’

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What do users want? Self-service, interactive analytics with all kinds of datasets with instant response times, no waiting.

Today there is a strong move towards “Consumerization of BI” as business users are demand the same speed, and ease of use from their enterprise applications as their at-home software.

Consumerization of BI (“data at your fingertips”) means:

Help employees see and understand data

Helping employees gain insight into their data using simple drag-and-drop operations to solve business problems

Ability to quickly change filters and query conditions and conduct top down analysis via drill down

Make analytics fast, easy, interactive, and most importantly – useful

In every major corporation there is a renewed push to industrialize and improve data visualization and reporting capabilities.

The challenge is not in procuring the next greatest tool or platform but how to organize the people, process and assets effectively to create value, reduce training and support costs. In other words, how to facilitate and create a flexible operating model for data mining and visualization delivery that provides discipline at the core while giving the business the agility that they need to make decisions or meet client needs?

Decision making is a core business activity that requires facts and insights. Slow, rigid systems are no longer useful enough for sales, marketing and other business users or even IT teams that support them. Competitive pressures and new sources of data are creating new requirements. Users are demanding the ability to answer their questions quickly and easily.

So the new target state is to empower business users along the Discover, Decide and Do lifecycle:

Discover new insights by rapidly accessing and interrogating data in ways that fit how people naturally think and ask questions.

Decide on best actions by publishing dashboards, collaborating with others, discussing insights and persuading others through data presented in an interactive application (“app”) rather than in a static view.

Do what is best at each decision point with confidence, based on the consensus that develops when new data is aggregated and explored with multiple associations and different points of view. Teams can take action more rapidly and move projects forward more effectively when everyone understands the data underlying decisions.

The challenge for business users is data discovery and ease-of-use. They want to focus on business questions that require aggregation and visualization. They want the interactive ability to quickly change filters and query conditions.

The challenge for infrastructure and application teams in every corporation is to deliver new easy-to-use platforms to their business partners quickly and consistently while maintaining governance and control.

To meet both sets of requirements, best practice firms are creating Data Mining and Visualization Competency Center or Centers of Excellence (DV-CoE) to ensure that the people, process and technology investments are not duplicated and addressed in a way that maximizes ROI and enhances IT-Business partnership. I have seen many cases where not having a proper structure leads to redundant projects and sub-optimal results. Read more

Defining Business Analytics

What is Business Analytics? Business Analytics is the intersection of business and technology, offering new opportunities for a competitive advantage. Business analytics unlocks the predictive potential of data analysis to improve financial performance, strategic management, and operational efficiency.

What is BI? BI is the "computer-based techniques used in spotting, digging-out, and analyzing 'hard' business data, such as sales revenue by products or departments or associated costs and incomes. Objectives of BI implementations include (1) understanding of a firm's internal and external strengths and weaknesses, (2) understanding of the relationship between different data for better decision making, (3) detection of opportunities for innovation, and (4) cost reduction and optimal deployment of resources." (Business Dictionary). Most widely used BI tool is Microsoft Excel.
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What is Big Data? Big data refer to data scenarios that grow so large (petabytes and more) that they become awkward to work with using traditional database management tools. The challenge stems from data volume + flow velocity + noise to signal conversion. Big data is spawning new tools that are mix of significant processing power, parallelism and statistical, machine learning, or pattern recognition techniques
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Corporate performance management software and performance management concepts, such as the balanced scorecard, enable organizations to measure business results and track their progress against business goals in order to improve financial performance.
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Data visualization tools, include mashups, executive dashboards, performance scorecards and other data visualization technology, is becoming a major category.
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BI platforms provide a range of capabilities for building analytical applications. Examples are Oracle OBIEE, SAP Business Objects 4.0. There are many choices and combinations of BI platforms, capabilities and use cases as well as many emerging BI technologies such as in memory analytics, interactive visualization and BI integrated search. The idea of standardizing on one supplier for all of one’s BI capabilities is difficult to do. Increasingly, standardization and more about managing a portfolio of tools used for a set of capabilities and use cases.
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Data integration tools and architectures in support of BI continue to evolve. Extract-Transfer-Load (ETL) tools make up a big segment of this category in addition to data mapping tools. Organizations must now support a range of delivery styles, latencies, and formats.
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BI is about "sense and respond." Analytics is about "anticipate and shape" models.

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Business Analytics 3.0 blog is meant for decision makers and managers who are trying to make sense of the rapidly changing technology landscape and build next generation solutions. It is aimed at helping business decision makers navigate the "Raw Data -> Aggregate Data -> Intelligence -> Insight -> Decisions" chain.